ProShares UltraShort Gold (NYSEARCA:GLL) Stock Price Cross Above Two Hundred Day Moving Average of $67.78
ProShares UltraShort Gold (NYSEARCA:GLL)’s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $67.78 and traded as high as $54.06. ProShares UltraShort Gold shares last traded at $53.86, with a volume of 658 shares changing hands.
The firm has a fifty day simple moving average of $58.51 and a 200-day simple moving average of $67.78.
An institutional investor recently raised its position in ProShares UltraShort Gold stock. IMC Chicago LLC grew its holdings in ProShares UltraShort Gold (NYSEARCA:GLL) by 91.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,536 shares of the exchange traded fund’s stock after acquiring an additional 10,271 shares during the period. IMC Chicago LLC owned about 7.25% of ProShares UltraShort Gold worth $1,316,000 as of its most recent filing with the Securities & Exchange Commission.
ProShares UltraShort Gold (the Fund) seeks daily investment results that correspond to twice (200%) the inverse (opposite) of the daily performance of gold bullion as measured by the United States dollar p.m. fixing price for delivery in London. The Fund will not directly or physically hold the underlying gold, but instead, will seek exposure to gold through the use of financial instruments, whose value is based on the underlying price of gold to pursue their investment objective.
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